Resourcefulness has become a high priority for many, and the Community Foundation understands this. It’s why we continue to provide charitable tools that allow donors like you to give when our community needs are the greatest. Below are a few examples of how we do this, but please contact us if you’re interested in discussing other ways we can accommodate your giving. Helping you achieve your charitable goals is our passion.
1.) Make a gift that provides a cash flow benefit. With a charitable remainder trust or charitable gift annuity, you can arrange regular payments for life—for yourself and your loved ones. During times of economic stress, the fixed income from a gift annuity can be especially helpful and bring peace of mind. At the same time, the balance of the gift benefits charity. It’s a win-win.
2.) Put it in writing. Take a long-term perspective, while also taking control of your future by including your intentions for both family and charity in a will or revocable living trust. Not ready to name a specific charity to support? The Community Foundation can work with you to identify and confirm your charitable wishes with a “letter of intent” that can be updated whenever appropriate.
3.) Give using “Forgotten Assets.” Life insurance policies, commercial annuity contracts and savings bonds are often overlooked in considering how to contribute. Depending on a number of factors, including your planning objectives, you may be able to receive a tax deduction or avoid income taxes altogether.
4.) Take advantage of the limited-time IRA “charitable rollover.” If you’re 70½ or older, you can transfer up to $100,000 directly from a traditional IRA to the Community Giving Fund, Cowlitz County Community Fund or the Community Foundation Administrative Endowment. The amount transferred can be used to satisfy your 2011 required minimum distribution without increasing your taxable income. NOTE: Act promptly, as this popular giving method expires at the end of the year.
5.) Finance a stock gift with money from a retirement plan. Transfer stock or securities directly to the Community Foundation to receive a deduction for the full value, while also avoiding tax on any gains. If you expect the stock to appreciate, withdraw an equal amount of cash from an IRA or qualified retirement plan to purchase the same number of shares you just contributed. Your deduction should offset the taxable cash withdrawn, and if you’re 59½ or older you’ll even avoid the 10 percent penalty tax.